ambuja cements shares: Big movers on D-Street: What should investors do with Godrej Properties, Ambuja Cements and Indus Towers?

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Benchmark BSE Sensex rose by nearly 286 points to close at a record high while Nifty settled above the 24,950 level on Wednesday.

Stocks that were in focus include names like Godrej Properties, which gained 1.32%, Ambuja Cements, which rose 1.01%, and Indus Towers, whose shares declined 3.03% on Wednesday.


Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.

Godrej Properties


Godrej Properties is currently exhibiting a positive chart pattern with high trading volumes, indicating strong investor interest. The stock is supported at 3200 and 3150 levels, providing a solid base for potential upward movement. On the resistance front, the stock faces hurdles at 3300 and 3350.

A sustained move above these resistance levels could signal a further bullish trend. Given the positive chart setup and high volume, Godrej Properties appears to be poised for potential gains, provided it maintains its support levels and breaks through the resistance barriers.


Ambuja Cements


Ambuja Cements is showing a positive chart formation with high volumes, suggesting increased buying activity. The stock has strong support at 670 and 660, which could act as a cushion against downward movements.

On the upside, the stock faces resistance at 700 and 720.

A successful breach of these resistance levels could lead to a significant rally. The current technical indicators point towards a bullish outlook, making Ambuja Cements a stock to watch for potential upward momentum, contingent on maintaining its support levels and overcoming resistance.

Indus Towers


Indus Towers has demonstrated a positive chart with a high volume breakout, indicating robust bullish sentiment. The stock is well-supported at 425 and 420 levels, which could provide stability in case of minor pullbacks.

Resistance is noted at 445 and 450. A breakout above these resistance levels could trigger a strong upward movement. The positive chart setup, combined with the high volume breakout, suggests that Indus Towers is in a favorable position for further gains, provided it holds above its support levels and breaks through the resistance.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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